EUR/USD: Euro Trading Higher in the Asian Session

Fundamental analysis of Forex market

For the 24 hours to 23:00 GMT, the EUR rose 0.75% against the USD and closed at 1.1182 on Friday.

In the Asian session, at GMT0400, the pair is trading at 1.1197, with the EUR trading 0.13% higher against the USD from Friday’s close.

The pair is expected to find support at 1.1139, and a fall through could take it to the next support level of 1.1081. The pair is expected to find its first resistance at 1.1233, and a rise through could take it to the next resistance level of 1.1269.

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Looking ahead, traders would await Germany’s retail sales data for November, set to release in a while. Later in the day, the US pending home sales and goods trade balance, both for November along with the Chicago Purchasing Managers’ Index and the Dallas Fed Manufacturing Business Index, both for December, will pique significant amount of investors’ attention.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.